Gladstone Land Co. (NASDAQ:LAND – Get Rating) – Investment analysts at B. Riley lowered their Q2 2023 earnings per share estimates for shares of Gladstone Land in a research report issued on Thursday, May 18th. B. Riley analyst C. Kucera now expects that the real estate investment trust will post earnings per share of $0.08 for the quarter, down from their previous estimate of $0.11. B. Riley currently has a “Buy” rating and a $24.00 price target on the stock. The consensus estimate for Gladstone Land’s current full-year earnings is $0.73 per share. B. Riley also issued estimates for Gladstone Land’s Q3 2023 earnings at $0.17 EPS, Q4 2023 earnings at $0.18 EPS, FY2023 earnings at $0.61 EPS, Q1 2024 earnings at $0.16 EPS, Q2 2024 earnings at $0.09 EPS, Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.62 EPS.
Several other research analysts also recently commented on the company. EF Hutton Acquisition Co. I reduced their target price on Gladstone Land from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. StockNews.com initiated coverage on Gladstone Land in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Oppenheimer raised Gladstone Land from a “market perform” rating to an “outperform” rating and cut their price target for the company from $25.00 to $22.00 in a research note on Wednesday, February 22nd.
Gladstone Land Price Performance
LAND opened at $15.22 on Friday. The stock has a market cap of $543.51 million, a price-to-earnings ratio of -32.38, a PEG ratio of 3.48 and a beta of 1.02. Gladstone Land has a 1 year low of $14.95 and a 1 year high of $27.85. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average price of $16.02 and a 200 day moving average price of $18.11.
Gladstone Land Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, June 21st will be issued a $0.046 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Tuesday, June 20th. Gladstone Land’s dividend payout ratio (DPR) is presently -117.02%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new position in shares of Gladstone Land in the fourth quarter worth approximately $27,000. MinichMacGregor Wealth Management LLC bought a new position in shares of Gladstone Land in the fourth quarter worth about $29,000. Belpointe Asset Management LLC bought a new position in shares of Gladstone Land in the fourth quarter worth about $30,000. Heritage Wealth Management LLC grew its holdings in Gladstone Land by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 1,710 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 855 shares in the last quarter. Finally, Money Concepts Capital Corp bought a new stake in shares of Gladstone Land in the 4th quarter valued at about $33,000. 45.31% of the stock is owned by hedge funds and other institutional investors.
Gladstone Land Company Profile
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Gladstone Land Corp. is an agricultural real estate investment trust, which engages in the business of owning and leasing farmland. It also includes farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. The company was founded by David Gladstone on June 14, 1997 and is headquartered in McLean, VA.
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